Banking

Profitability is improving and all divisions, except the firm’s biggest — wealth management — surprised the market on the upside.

After almost a decade of competing for digital advice assets, new banking offers have the firms going toe-to-toe again.

Several wealth management firms, including Marcus by Goldman Sachs and Wealthfront, have launched banking products to complement their investment services.

Lenders have learned that automated wealth management tools enhance interactions with clients — and bring in more business.

On the wealth management side, Morgan Stanley posted $4.41 billion of revenue, which was 2% higher than last year and blew away analysts’ estimates for a 9% decline.

More than one-third of the $1 billion new assets on the digital advice platform are from new clients.

Regulators are asking cannabis fund providers to produce third-party legal opinions verifying they don’t violate state or federal laws.

When pricing for your subscription services, lessons can be learned from the online streaming giant.

The custodial bank says it has reimbursed the affected clients with interest.

Almost four in 10 borrowers are under the age of 30, according to data from the Federal Reserve Bank of New York.